Closed Out China Fire & Security Group

I closed out my position in China Fire & Security Group (Ticker: CFSG) yesterday generating a return of 3.25% over a 3 month period (annualized return of 12.72%). I started building a position in this stock in June when it was $7.81 and subsequently added more as the deal neared closing. I sold because I thought the deal would have closed by now and there was better risk arb opportunities out there. I continued to add to Harbin Electric (Ticker: HRBN) as this deal nears completion.

On a side note, I’ve also been dabbling in some silver coins and the 2011 American Eagle 25th Anniversary Silver Coin Set from the US Mint (click: here) is harder to get than the hottest IPO. The US Mint started selling this con set online today and the demand for this coin set basically crashed their web site. I’ve just about given up trying to get this…

Edit:

100,000 of these coin sets ($299.95 per set) were sold out in 4.5 hours. Here's a picture of the coin set.